Following the recent cut to the cash rate by the RBA, my current lender is yet to make a decision if they will pass on the cut. From past experience, my feeling is they will not pass on the full rate cut. I am with Loans.com.au. Currently paying 3.92% comp. variable rate.
Was searching internet and came around Reduce Home Loans offering 3.19% comparison variable rate with free 100% offset account and redraws and $0 upfront fee. Basically no fee at all.
First time I have heard about them. I think this is highly competitive and the lowest advertised rate currently offered by any other lender on the market.
I am thinking to make the switch.
Anyone had any experience with Reduce Home Loans, have heard about them before or can provide any useful input/suggestion?
If not Reduce Loans, then please suggest which other lender is best to approach when refinancing $270,000.